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When You Love To Be Right
190

When You Love To Be Right

by The MoleMay 6, 2019

Ever heard someone say ‘I hate to be right but [fill in lucky prediction of your choice]. Well that’s a lie – I of course love to be right, especially when it comes to avoiding nasty market traps. Plus nothing fills my heart with more joy than to pick over hapless disoriented prey after a massive Monday morning opening gap.

However despite my megalomaniacal disposition I’ve always hated to watch the little guy getting stepped on. I mean let’s take care of business behind closed doors for crying out loud!

Alright enough inappropriate teutonic humor – let’s get serious. So yes, I am of course pretty jazzed about having avoided this morning’s train wreck by wisely choosing the only possible option when finding oneself caught in a lose/lose situation.

When the game gets stupid the only way to win is not to play. Or to quote Warren Buffet: If you’re playing poker and you can’t find the sucker at the table, you’re it!

Oh boy, this is going to leave a mark at the open. I do expect a bit of follow through but will keep my eyes peeled for a potential snap back. So if you’re a Zero sub this morning (and I hope you are) then I recommend you wait out the first hour or so, then start looking for a bullish divergence.

The initial signal lower is expected to be pretty massive, so any divergence should be unmistakable and then be backed up by a bullish price formation like e.g. a spike low with a retest. You know the drill!

Now this gap lower obviously didn’t come out of nowhere and to simply point at the break down of the trade deal with China is rather naive. It was simply an excuse to break a market that had found itself stuck in exhaustion after finally having painted all time highs.

See how realized volatility has been slowly creeping up over the past two weeks? We didn’t get an exhaustion spike after the ATHs because the majority of market participants had not been – well… participating… in this rally. And that’s all fine and dandy – it often even causes hated rallies to bubble even further to unexpected highs.

But at some point it finally runs out of buyers. ESPECIALLY when the past few weeks of price action had been marked by opening gaps in one direction or the other. Too many whipsaws, too many traps, too many players missing the bus ahead of a big move to the upside.

Very smart man this Lincoln. I for one am delighted being born an idiot, which is why nobody has bothered to put a bullet in my head (yet).

I posted the Dollar chart on Friday but due to recent developments it bodes repeating. If you want to get a pretty solid perspective on the current circle of confusion (pun intended) then look no further than the Dollar which recently seems to be sattled by Bill Dunn riding the bucking bronco.

Look guys, we should complain. We had ourselves a juicy rally and it’s now shake out time. Doesn’t mean we’re heading straight back into a bear market, at least not yet.

Speaking of hapless victims, here’s a goodie for my intrepid subs:

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://iberianviews.blogspot.com/ catracho

    You mean sandals? de rigueur in Europe πŸ™‚

  • BobbyLow

    Mornin Folks,

    We’ll see if the Market drop was only foolin or not. . .

    On another matter, you might not be aware that there are a few new products on the market for those of us who might be Capital Challenged. Beginning last night, there are spanking brand new micro equity index futures. We now have /MES which is 1/10th the size of /ES, /MNQ which is 1/10th size of /NQ, /M2K which is 1/10th the size of /RTY and /MYM which is 1/10th the size of /YM. So we all get to pick our poision now. πŸ™‚

    I got back on Friday and opened a full position of long BIO Tech LABU and got caught with my pants down after the weekend BS. I also have a long position in wheat that’s bleeding a little. But both appear to be wanting to come back and neither has hit my stop yet. Getting tempted to try a little /MES S&P Futures today . . .

  • HD

    VIX 18.8 allows for 2.6% move this week

  • ridingwaves

    I called Trump last night before flight to Boise to give him the scoop on my travel, Mole dentist and RW travel is new hedge play……..:) When your gone go big on green move…..

    Here’s hoping vacation was relaxing…

  • BobbyLow

    LOL

    Thanks RW. We were down in the Florida Panhandle visiting some relatives at Panama City Beach. Spent a lot of time at the beach and got a hell of a sunburn. Got to unwind a bit but I’m glad to be back in the saddle again. πŸ™‚

    Tried out a long /MES S&P Future Contract and will see what happens. What I like about the micro futures is that I can put on a 20 point Stop or more with these but would be uncomfortable as hell using that large a stop on /ES.

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • HD

    Going into Friday the squeeze meter(not an RSI study) was 7:10, >70 producing at least a 10 handle PB. Friday produced 3 signals, 2 of them did not lead to 10+ handles but multiple signals with -D have led to very sizable PB’s. 9:13 now. I am not including the bottom signals although notable.
    https://uploads.disquscdn.com/images/92a425b4bb3f1dfb1b65c4bd57f1a89c2e600756aee40e04d252f769d6d8f0e5.png

  • ridingwaves

    I’ll look at them, does position size has to be altered to get same R performance?

  • HD

    The trade news facts vs the trade news tweets kind of explain the grains trade. Farmers getting creamed

  • Dyellowflash

    Nothing on the zero. Might worth a short punt here.

  • Sp00nman

    Ya, soybeans definitely has been the contrarian moving lower the last couple weeks.

  • BobbyLow

    1 Contract of /ES = $50.00 per point. 1 Contract of /MES = $10.00 per point. As far as R levels go and the number of contracts per trade, it still comes down to the measurement of how many points in your initial stop loss as dictated by your system. In any event, I think these micro equity futures could open up a whole new world.

    BTW, another thing I’m liking about the /MES is that the price is exactly the same as /ES and the Spread between Bid and Ask has also been the exactly the same.

  • HD

    currently 73 at 2920

  • Julie 35 – 25 – 36

    USO moving stop on remaining 1/4 short down to today’s high.12.89 No position SPX Bearish close below 2913.73 is my signal to short. Again BAC short will add below 30.20 as stated last week Trade carefully Guys a lot of Monkey Business
    JULIE

  • BobbyLow

    The China thing shook me off Soybeans a few weeks ago. The on again off again deals (BS) proved to me that it wasn’t worth the extra risk. I got caught with opening gaps against me with stop outs twice and I said a big F U to the soybean trade until the trade deal was finally resolved one way or another.

  • Julie 35 – 25 – 36

    BL Way too much BS SPX I would like to see a drop to approx 2850 – 2660 then a bounce to a lower high to short. Like the Chief states in today’s post a reason for the gap lower BUT ,,,! Glad you had a nice vacation
    JULIE

  • BKXtoZERO

    added to my TVIX 22.27 intraday

  • Julie 35 – 25 – 36

    Miss type 2850 – 2860 should read
    JULIE

  • ridingwaves

    be careful, this is a setup…..I would not want to be short in front of Uber IPO Thursday….

  • BKXtoZERO

    noticing in EW terms even last night that this could be C of god knows down…. setting up the next high

  • http://www.captainboom.com/ captainboom

    This is good info. Thx. I might try my hand with the minis.

  • https://evilspeculator.com Sir Mole III

    What is it with you Spaniards all shaving your legs? And then getting a tattoo on one calf? I think 80% of Spanish men under 30 have one.

  • ridingwaves

    these bastards are evil…..

  • https://evilspeculator.com Sir Mole III

    Let’s see how much liquidity we’ll see on those products. If the spreads are too wide then I wouldn’t touch them.

  • https://evilspeculator.com Sir Mole III
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    $TNX A bearish close below the cloud gonna do some damage to the Banks JULIE https://uploads.disquscdn.com/images/ca89dd2ea0af84eb539e42ec9291a2d6143a9fd3887be725d62450806385f525.png

  • http://www.captainboom.com/ captainboom

    Ran across this guy today. I think his stats could be right up our alley.

    https://metricsmaestro.wordpress.com

  • BobbyLow

    I have /ES and /MES right next to each other on my watch list and the Micro E-Mini /MES has had the same exact spread as /ES all day and the volume has been decent on /MES. I can’t speak for the other equity micros but I’m pleasantly surprised that /MES has been such a fair trade and not a screw job on spreads like some of the Micro Grains and others.

  • BobbyLow

    That’s some serious stats. . .

  • Julie 35 – 25 – 36

    Captain It is similar to the Smart Money Metric … Thanks for showing
    JULIE

  • Dyellowflash

    I had shorted as I said I would at the last couple of 5m candles. I am not sure if I am on the right side today, so I am putting all my SL at breakeven. I dont mind not getting anything out of this trade if it sweep me out.

  • https://evilspeculator.com Sir Mole III

    Good stuff πŸ™‚

  • Julie 35 – 25 – 36

    BAC Yeah ! Bounce up to 61.8% retracement and lower cloud Now the dump below the lower trend line Love it ! JULIE https://uploads.disquscdn.com/images/b276819e384186664b60c35b6f51ae67fc54e4d509fd85c72e478983c4e6ed21.png

  • https://evilspeculator.com Sir Mole III

    The expectancy table shows why most traders fail at trend trading:

    https://content.screencast.com/users/evilspeculator/folders/Jing/media/deb0ff81-653b-48a7-90ed-23777e306929/00022891.png

    Okay I’m off to have some stitches pulled. Back in an hour or so.

  • nirav777

    Not clear play for me tho… i have my helmet on, and the knee pads.. for good measure

  • zzezzezz

    I went short on Friday. Moved stops down last night. Just watching this morning.

  • BobbyLow

    What’s the old saying – “Nothing is as it seems”?

    I looked at the futures last night and had an “Ah Shit Moment” and now I can’t believe that as of this moment, I’m having a pretty good day. After 20 years, the markets still never cease to amaze me.

    Of course there’s still a long way till the close and plenty of time for the markets to really go down the tubes so we’ll see what happens.

  • BobbyLow

    Beautiful!!!!!!

  • Julie 35 – 25 – 36

    Hi Z Nice ! My signal to short SPX is a bearish close below 2913.73
    JULIE

  • ridingwaves

    me too, AXSM is killing it….its like a fed printer

  • ridingwaves

    short now…

  • Dyellowflash

    hmm… quick rare to see the hrly zero moves in 2 separate directions at a specific point in time. https://uploads.disquscdn.com/images/9ab60479acd0e93b014de2e97189124dbfb2d753b4af4a623ff416ce2c19db7a.png

  • http://iberianviews.blogspot.com/ catracho

    haha..yes I know what you mean, I never understand all that body shaving ..good thing I’m not Spanish – just a latino-phile

  • BobbyLow

    Might want to keep an eye on Oil. If Oil holds up there’s a pretty good chance that Oil Companies will hold up. Athough Oil Companies might not have the power they once had in the S&P 500, I think they’re still pretty hefty by weight.

    Just a thought. . .

  • Julie 35 – 25 – 36

    USO has attained initial target posted approx 12.80 Still short 1/4 position Breaks below 55 ema @ 12.67 matching a support then down to 12. https://uploads.disquscdn.com/images/bf0d323501adb676f7547fb9e06dfce09adb2e3b9d683cdea2a2b9acdc7862fa.png 20 Going to let my stop which I am moving down take me out JULIE

  • ridingwaves

    Buffett mentioned over the weekend they are looking into buying heavy into energy production, exploration ….

  • BKXtoZERO

    Pulled all TVIX off at 22.6, this drop just spells next leg set up to me… EW “C” of 4 of lord knows what as I don’t count but the definition is a 2 leg drop. C often scary. Made some good $$$$ here.

  • ridingwaves

    must be all about bike road racing….or swimming…
    the coming solar minimum is going to be damn cold for them….

  • BobbyLow

    He’s also bought heavily into Amazon. I haven’t looked at AMZN for years until just now and I can’t believe it’s at $1,943.00 per share? Wow!

  • Julie 35 – 25 – 36

    Guys Be careful NOW the lower trend line of rising wedge has been broken and price below the declining 5 ema. A bearish close and losing the 21 ema will be a significant step for the bears Keep things in perspective JULIE

  • Julie 35 – 25 – 36
  • bankwalker

    Why would he show his hand before he buys?

  • Julie 35 – 25 – 36

    BW If you have noticed over the years Warren is a mouthpiece for Wall St
    JULIE

  • Dyellowflash

    Hi, dont mind if i ask, why is the 21ema impt? Shouldnt it be 30?

  • Julie 35 – 25 – 36

    I always use the 21 ema in lieu of the 20 sma as 21 is a fib number as is 55
    JULIE

  • Dyellowflash

    I see. Tks. I am a Short term trader. The 30ema works for me on the 1 min chart. https://uploads.disquscdn.com/images/cab5485d412e287ef2fe9835ebea214fbf525807ce6d99bb67676a9acd191d31.png

  • HD
  • Darkthirty

    I’d like to see a study on the market between march 2009 to present and the previous ten years…….

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    I can’t speak for DOW or SPX, but that RUT..

    https://www.youtube.com/watch?v=sfCLt0kTd5E

  • BobbyLow

    LOL

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • BobbyLow

    LOL

    I never liked this guy even when he was a shill on CNBC back in the days when I was stupid enough to watch “Whore’s are us” on Kudlow and Cramer.

  • HD

    Rumor is now Cramer as new Fed boss. Mad money 2.0. The ultimate market pumpers.

  • BobbyLow

    OMG! – LOL

  • Julie 35 – 25 – 36

    SLV A bullish falling wedge and positive if it breaks above the upper down trend line and 21 ema. Will be comfirmed by breaking above trend lines of RSI and MACD Remember the SILVER COT Report I showed last week of Commercials dramatically reducing their net short position JULIE https://uploads.disquscdn.com/images/cb8d97687f2da11f0cd3629888ed7eea2876d8f6318cf1fa97255084a54b463a.png

  • HD
  • Julie 35 – 25 – 36

    Guys You can also see STOCHS coiling in above chart. A major move is coming
    JULIE

  • http://iberianviews.blogspot.com/ catracho

    Island..

  • https://evilspeculator.com Sir Mole III

    Okay I’m back. Really hope I don’t have the see the inside of a hospital for a few years now.

  • Julie 35 – 25 – 36

    BL The scuttlebut why Cramer and Kudlow broke up was that Cramer lost all Kudlow’s money !
    JULIE

  • https://evilspeculator.com Sir Mole III

    The cyst was benign in case anyone cares πŸ˜‰

  • Julie 35 – 25 – 36

    Hi Chief Glad you are OK Thanks for the post and the Monkey Business continues. Going to be a crazy week Chief !
    JULIE

  • Julie 35 – 25 – 36

    Good I had a benign cyst removed recently too
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    I’m due, but dam – I don’t like clinics.

  • BobbyLow

    What MA a person and or time frame a person is trading is a topic that I find interesting because IMO, the market does not care what MA or time frame we are trading. We trade different MA’s and time frames because we as individuals have found what are workable solutions AKA various trigger points that work for us. I can look at one time frame and MA and look at another one with a different set of paramenters and get a totally different opinion of what I should do.

  • BobbyLow

    Definitely possible because I don’t think either one of them know their ass from their elbow. LOL

  • HD

    How big was it? My dermatologist removed 2 last year that had blood vessels. Gnarly.

  • BobbyLow

    And /CL is green folks. Bombers buzzing around Iran might have something to do with it but it’s green nonetheless.

  • BobbyLow

    Benign is always good news. . .:)

  • Julie 35 – 25 – 36

    Guy $DAX Very important to monitor. Now at 61.8% retracement and upper channel A break below the down trend line and weekly 5 ema will be a negative for Europe and our markets. JULIE

  • Julie 35 – 25 – 36
  • Julie 35 – 25 – 36

    Hi BL Out of USO remaining short I did OK … not going long tho
    JULIE

  • mSquare

    He actually may be a good ‘different’ non-Phd voice on the Fed!

    Surely better than the 999 pizza guy or bring back the gold standard misogynist rabble-rouser

  • BKXtoZERO

    Julie I took your silver set up below. I would take it myself not blindly following… Looks like a nice set up. Small hold. Thanks.

  • mSquare

    $INTC – A decent bottom-fish long here? Tight stop at $50.12 the low from last week or $48 for longer term hold

    https://stockcharts.com/h-sc/ui?s=INTC&p=D&b=5&g=0&id=p04152258093

    Going long via selling PUTs expiring soon

  • BobbyLow

    You did good on that short Julie. I missed it because I didn’t want to hold a short ETF position while I was away. I’m not ready to go long yet either. To go long near this morning’s low would have been too risky for me. I need to see more strength before I consider going long. I think it’s going to be all about the Middle East for awhile so price might get stronger sooner rather than later.

    Will keep an eye on it.

  • Julie 35 – 25 – 36

    BK GLD and GDX setting up too per charts and comments last week
    JULIE

  • HD

    Kudlow stole Cramer’s cocaine. Was all over the enquirer

  • Julie 35 – 25 – 36

    Hi RW The congestion zone and large Volume By Price below should be strong support along with RSI down to 30. Also usually takes about 5 trading days after a huge gap down to settle down as institutions weigh in JULIE https://uploads.disquscdn.com/images/3ec74f28cf740ccc4211045875cd9ed63addf10474ae1c785bfa23986609216e.png

  • BobbyLow

    I forgot all about how much he liked “nose candy” Although I think a lot of high fliers went down for the count using cocaine to get an edge.

    https://www.businessinsider.com/larry-kudlow-cocaine-habit-john-kelly-1990s-2018-3

  • Darkthirty

    They both know a gram from an lb

  • BKXtoZERO

    No pictures?

  • BobbyLow

    OK Boys and Girls what’s your Over/Under 100 Points on Dow and 2900 on SPX?

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    GG and Guys UPS patiently waiting for the oversold bounce to the confluence of the 5 and 21 ema’s and gap to short this “Red Pig Down” JULIE https://uploads.disquscdn.com/images/f9fe267bb645feaab9ce8c0eb5aba5c82389eed586e762e06b0c72f6c4b76c3b.png

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Gee, MACD histogram near zero again.
    where do you find these beauties!?
    πŸ˜‰

  • Julie 35 – 25 – 36

    BL I will take SPX for a 100 !
    JULIE

  • Julie 35 – 25 – 36

    I follow your lead GG ! LOL!
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    check this ratio chart out.
    long one/ short the other?

    https://stockcharts.com/h-sc/ui?s=FDX%3AUPS&p=D&yr=1&mn=2&dy=0&id=p17417311890

  • https://evilspeculator.com Sir Mole III

    Mine started to talk and asked for equal rights. It had to go…

  • Julie 35 – 25 – 36

    Guys Remember our Chief’s “Red Pig Down” Love it ! Never will forget it Chief !
    JULIE

  • https://evilspeculator.com Sir Mole III

    Pussie!

  • https://evilspeculator.com Sir Mole III

    Huh??

  • BobbyLow

    Well if that’s +100 Points that would make my first long /MES draw first blood very nicely. LOL

  • Julie 35 – 25 – 36

    It was about a year ago Chief .. Red pig Down..I remember You were describing possible market scenarios at the time. Loved it Chief !
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • BKXtoZERO

    I knew it….grind grind grind….. It will be decided after hours as usual.

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • zzezzezz

    I’m still short /NQ and /YM, but they’re approaching my stops… I guess just hold your nose and BTFD again!?!?!?!?!?!?!?!?!?

  • BobbyLow

    Can anyone imagine what it must feel like being a “Perma Bear” right now. TG I went to enough Bear Anonymous Meetings so I don’t have that shitty, what the fuck did I do feeling anymore. πŸ™‚

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Julie,
    it’s looking like a pennant/triangle?..

  • BKXtoZERO

    Lol…. We talk about our feelings. I stopped going.

  • BobbyLow

    And we’re Under a 100 on the Dow and Over 2900 on the SPX with 70 Minutes to go.

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    SPX Looks to me like a corrective 3 legs off the low this a.m Let’s see GG If SPX can close above it’s 5 ema approx 2933.72
    JULIE

  • Julie 35 – 25 – 36

    Guys SPX Unreal the the gap down on open was bought .. Still a freight train
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • BobbyLow

    Well that’s + 20 Points on /ES from my entry so far and I would have been up $1,000 on 1 Contract if I wasn’t such a Po-Boy and bought the cut-rate brand /MES.

    But OTOH, I wouldn’t have taken on an /ES trade with a 21 Point $1,050 Initial R so I’ll just be satisfied with what I have and continue to dance with the one who brung me. πŸ™‚

    My LABU’s up around $2.00 per share so far today and Wheat even held its own. Who woulda eva thunk it?

  • Darkthirty

    itching to short right here…..

  • BobbyLow

    That’s a perfect description! LMAO

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    I am still on the sidelines SPX .. Here is one for ya Guys TLT at 61.8% retracement and possibly pulling back probably printing a black candle meaning a close below it’s open Complete Monkey Business ! https://uploads.disquscdn.com/images/4fcc6e6726e4650b928d1afe0bf630374f8c5b1079e24a28cb31f3a204e9b752.png JULIE

  • Darkthirty

    RSI on $INDU 60 MIN needs 72 or so

  • Sp00nman

    Looks like bull momentum fading very short term. Could be worse places to short.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    but then you face overnight risk?

  • Darkthirty

    ES fib time and 786 retrace are on ….

  • Darkthirty

    Monday options are dead in 45 minutes….5 pts is 2X

  • Mark Shinnick

    Amazing last couple of weeks got mostly taken in just one day today.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    I’m going to have to switch from mountain gear to ballooning!

    https://i.dailymail.co.uk/i/pix/2014/11/28/239181DB00000578-0-image-31_1417173625737.jpg

  • HD

    so to recap, gap it down >1%, take out last weeks low, and then rally it relentlessly.
    THOSE MF’rS

  • Mark Shinnick

    ballooning….wow, hope you do…its phenomenal experience.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Mole *did* say to wait an hour after open.

    and my BPSPX never did signal short. dam close, but no signal.

    https://stockcharts.com/h-sc/ui?s=%24BPSPX&p=D&yr=0&mn=6&dy=0&id=p85144430594

    simple tools for simple rodents.

  • BKXtoZERO

    C of something…

  • Julie 35 – 25 – 36

    Guys I am closing my BAC small short probe for break even and going to just watch this “Monkey See Monkey Do” Going to wait for a bearish close (reversal candle) on the daily chart below 29.95 to short. Do not like a long position as BAC overbought weekly. Again Monkey Business Monkey See Monkey Do
    JULIE

  • BobbyLow

    I hear ya but we have to remember that this is Wall Street not Sesame Street. πŸ™‚
    Seriously though, I now expect the market to be a cruel bitch and it rarely disappoints.

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Mark Shinnick
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • HD

    Atilla, of Xtrends “fame”, 10,000 followers, blocked me on twtr for “respectfully disagreeing” with him calling the vix shorters a special kind of dumb. Vix is down 20% from the open…..

  • Julie 35 – 25 – 36

    GG .. Sidelines for Julie BUT watching the PM’s and Miners GDX as posted charts and comments
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    you didn’t address the Yen side.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    most excellent. maybe trawl some of those 10K over here.

  • HD

    the bottom line is anybody that has more than 10 years experience really struggles to understand it is a much smarter market now.

  • Julie 35 – 25 – 36

    GG What’s a Yen ? LOL!
    JULIE

  • BobbyLow

    Probably should consider it an honor to be blocked.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Yen for chocolate. Yen for steak.

  • HD

    I haven’t done much tea leafing, wave wanking, total BS, doesn’t work analysis recently πŸ™‚

  • HD

    absolutely! lol

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    HD Better traders here by far ! A great bunch of Guys !
    JULIE

  • BobbyLow

    I don’t think it’s such a smarter market now but rather that I was more ignorant and naive back 10 years ago. Regardless, I learned not to try to outsmart the market but go with the flow and follow the money instead.

  • BKXtoZERO

    Except that dullard BKX to zero guy.

  • HD

    wise words amigo.

    There’s a common theme to fade the PC ratio or margin levels or extreme level of VIX shorters, etc, etc. Smarter market.

  • Julie 35 – 25 – 36

    Guys This market is like watching the Portland Trailblazers – Denver Nuggets NBA Playoffs. Unreal to watch ! Good God !
    JULIE

  • BobbyLow

    LOL

  • BobbyLow

    I’ve been glued to price action since around 7 AM EDT this morning. What a day. I thought I was going to get whacked and the day got better and better and better as it went along. I’m exhausted but in a good way.

  • Julie 35 – 25 – 36

    BL As stated below … Unreal the market being bought on the gap down … A real curve ball BL .. You would think at this level there would be profit taking
    JULIE

  • Mark Shinnick

    …always wonder at past similar times, and today, what just really happened this past 24 hours….are we to pretend nothing very significant ?

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Close up your books.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    I’d rather watch the Oregon Ducks. (yawn)

  • Julie 35 – 25 – 36
  • https://evilspeculator.com Sir Mole III

    I spoil you guys too much…

  • Julie 35 – 25 – 36

    Guys Back To Work Everyone Have A Great rest Of Day !
    JULIE

  • BobbyLow

    Sometimes the markets are like this:

    “And that was that”

    https://www.youtube.com/watch?v=ZwWCxIV6-GQ

    Calling it a day. . .

  • Darkthirty

    Rather shoot mallard ducks

  • BKXtoZERO

    It will matter but not before more shorts are squeezed. Like anyone who entered today. Its a machine and just a game.

  • bankwalker

    some people with very deep pockets
    used the very high leverage of index futures contracts
    during overnight hours when stocks weren’t trading
    to push down the market by manufacturing a false crisis
    based on an insignificant non-newsworthy event
    so they could buy cheaper from weak people
    that had unwarranted fear.

  • Darkthirty

    Last minute in pre open WAS just like that! LOL$$

  • evilasevildoes

    what just happened?

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Mark Shinnick

    Yeah….just as simple as that.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Markets Re-Plunge As Lighthizer Confirms Tariff-Hikes After China Reneges On Promises

  • HD

    History doesn’t repeat itself, but it rhymes.
    https://www.youtube.com/watch?v=eKgPY1adc0A

  • ridingwaves

    nwa, heck they were 3 miles from my house but you would never know it growing up….crazy how just crossing the border into compton is like entering another world…..

  • ridingwaves

    well, MLP’s are extremely cheap right now….plus he can enter in private placement if he wants…..any company would let him grab some shares…

  • Julie 35 – 25 – 36

    IMO Best to be on the sidelines with indices when acting totally ridiculous with every whim and rumor associated with a trade deal with China. Earnings are secondary to tweets which is totally nonsensical. The Bond market knows best
    JULIE

  • Julie 35 – 25 – 36

    Guys INTC You can clearly see the importance of the 5 ema on a bounce. Must have a positive close above JULIE https://uploads.disquscdn.com/images/1a9c924d536d0d6c584ce74fb72e330eb19a1636727fcc711fe05df79df91ebd.png

  • Julie 35 – 25 – 36

    INTC Why the attempted bounce at this level ? 50% retracement and a support BUT the fib fan line matches the 5 ema and again must have a positive close above JULIE https://uploads.disquscdn.com/images/6be5c67c38822f3a6b4b746eca8d80278c46634ed05cdd3c2a836a4964bfdd2c.png

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • BKXtoZERO
  • BKXtoZERO

    No more Balley Hoo either……….. https://www.youtube.com/watch?v=ftl_ckcpZgY

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    just need some rally monkeys…or not.

    https://www.youtube.com/watch?v=_6xRHD1zTwY

  • Julie 35 – 25 – 36

    Guys DIS at the 13 ema and support which we were watching DIS also must have a positive close above it’s 5 ema like INTC JULIE https://uploads.disquscdn.com/images/d3331314c5c68ba19825b886489dc1a193d05797f6ed310a32496f7fe1c2598a.png

  • Julie 35 – 25 – 36

    The Futes What a ride ! All over the place !
    JULIE

  • http://iberianviews.blogspot.com/ catracho

    FTSE monthly – forming a lower high? https://uploads.disquscdn.com/images/807e036397c8285ee815ed2da8fcd861129ea14757b831b5b32c8895393d5f36.png
    divergences and similarities highlighted